Total amount raised
$31.3 Million
Latest funding date
10/1/2022
Location
WATI has successfully raised funding over three rounds, with the latest being a Series B led by Tiger Global Management. The company is backed by eight investors, including Surge and DST Global.
Keep reading to explore the intricacies of WATI's fundraising journey and the investors backing this innovative platform.
What Is WATI?
WATI, a private company based in Hong Kong, specializes in providing a shared team inbox and chatbot builder using the WhatsApp Business API. The company operates in the chatbot, messaging, SaaS, and software industries and has a significant employee count ranging from 101 to 250.
Founded by Vincent Tong and Abhineet Kumar, WATI offers solutions for marketing, sales, and support teams, leveraging AI to automate and enhance communication processes. The platform is trusted by over 14,000 businesses worldwide, aiming to drive faster ROI with its scalable, AI-native tools.
How Much Funding Has WATI Raised?
- Series B
- Amount Raised: USD 23,000,000
- Date: October 2022
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the team and product, enhance low-code automation, and expand into emerging markets such as Latin America and Southeast Asia.
- Series A
- Amount Raised: USD 8,300,000
- Date: December 2021
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial scaling and product development.
- Seed
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund initial product development and market entry.
Total Amount Raised: USD 31,300,000. Current Valuation: Not publicly disclosed.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies. They have a significant presence in the internet, software, consumer, and financial technology sectors.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Sequoia Capital India & Southeast Asia
- Details: Sequoia Capital India & Southeast Asia is a venture capital firm that partners with founders across India and Southeast Asia. They focus on technology and innovation, investing in early and growth-stage companies.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Byju's, Zomato, OYO Rooms.
- DST Global Partners
- Details: DST Global Partners is a global investment firm that focuses on late-stage internet companies. They have a strong track record of investing in high-growth technology companies.
- Investment Focus Areas: Late-stage internet companies.
- Notable Investments: Facebook, Twitter, Alibaba.
- Shopify
- Details: Shopify is a multinational e-commerce company that provides a platform for online stores and retail point-of-sale systems. This investment in WATI marks Shopify’s first venture investment in a startup operating in Southeast Asia.
- Investment Focus Areas: E-commerce, retail technology.
- Notable Investments: This is Shopify’s first venture investment in Southeast Asia.
- Surge
- Details: Surge is an accelerator program by Sequoia Capital India & Southeast Asia, designed to supercharge early-stage startups. They provide funding, mentorship, and resources to help startups scale rapidly.
- Investment Focus Areas: Early-stage startups across various sectors.
- Notable Investments: Not publicly disclosed.
What's Next for WATI?
WATI stands at the cusp of significant growth opportunities, particularly in emerging markets like Latin America and Southeast Asia. With a robust platform that leverages WhatsApp’s Business API, the company is well-positioned to tap into the growing demand for scalable, personalized customer engagement tools. The business messaging market is expanding rapidly, with around a billion people per week communicating with businesses via Meta’s messaging products.
Future fundraising opportunities appear promising, given WATI's recent successful funding rounds and the involvement of high-profile investors like Tiger Global and Sequoia Capital. As the company continues to scale its operations and enhance its product offerings, additional rounds of funding could be on the horizon to support further expansion and innovation.
However, WATI may face challenges such as intense competition from other customer engagement platforms and the need to keep up with rapid technological advancements. Navigating regulatory and compliance issues across different markets and ensuring data security and privacy will also be critical as the company expands globally.
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